|
New IRA and Roth IRA Contribution
Limits |
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|
Year
|
Maximum Contribution
|
Maximum Contribution
Including Catch-Up Provisions* |
|
2005
|
4,000
|
4,500
|
|
2006
|
4,000
|
5,000
|
|
2007
|
4,000
|
5,000
|
|
2008
|
5,000
|
6,000
|
|
*Those who reach age 50 by the end of the year can contribute an additional
$500 2005 and an additional $1,000 for 2006 and each subsequent year. |
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|
New SIMPLE IRA Contribution Limits for
Elective Deferrals |
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|
Year
|
Maximum Contribution
|
Maximum Contribution
Including Catch-Up Provisions* |
|
2005
|
10,000
|
12,000
|
|
2006
|
10,000
|
12,500
|
|
The catch up contributions are also eligible for employer matching
contributions. |
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|
New Contribution Limits for Company
Retirement Plans (Including 401(k)s, 403(b)s, and Section 457 Plans) |
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|
Year
|
Maximum Contribution
|
Maximum Contribution
Including Catch-Up Provisions* |
|
2005
|
14,000
|
18,000
|
|
2006
|
15,000
|
20,000
|
|
*Those who reach age 50, by the end of the year can contribute an
additional $4,000 in 2005 and $5,000 in 2006 and each subsequent year. |
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